The use of payment cards, such as credit cards, debit cards, and pre-paid cards, has become ubiquitous. Most payment card accounts have one or more associated physical cards; however, the use of non-traditional payment devices, such as appropriately-configured “smart” cellular telephones, is increasing. A wealth of transaction data is available based on the use of payment card accounts.
Statistical analysis involves the collection, organization, analysis, interpretation and presentation of data. Machine learning concerns the construction and study of systems that can learn from data.